Middle Kingdom Mania

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The folks over at ZeroHedge have been doing a lot of breathless commentary lately (which is their specialty) about the surge in equity prices in China and Hong Kong.


To be sure, Asian markets have been roaring lately, but just for a bit of perspective, here’s the exact same ETF showing the recent surge (the tiny little one on the right) compared with a slightly bigger rise in the mid-2000s. Now that is a rally. Of course, what followed that rally was more my cup of tea.